What kind of help can I arrange?

What kind of help can I arrange?

You can arrange for someone you know and trust to help you carry out certain financial matters. If you give someone the right to access your account, this is known as third party access.

Third party access might be used in a number of scenarios, but the most common are when the account holder is going travelling for a few months, knows they’re going into hospital, or is in poor mental or physical health.

This guide is designed to help you decide which type of help you want to arrange.

Advantages of third party access

The main advantage of planning ahead and arranging third party access is that it lets you choose who should manage your affairs, so you retain control. You can also decide what responsibility they'll have, and what decisions they can and can't make, like paying important bills. Even if you've given others different levels of access to help you, you can still manage your accounts while you're able to make decisions. Whoever is given authority, they must always act for your benefit.

What are the options?

There are 3 different options available depending on your circumstances and what help you may need:

There are 3 different options available depending on your circumstances and what help you need:
There are 3 different options available depending on your circumstances and what help you need:

Related guides

Been asked or appointed to help manage someone else's financial affairs? Read our guide.

Help managing someone else’s financial affairs

1. Third party mandate on savings accounts

If you only need limited help to manage your passbook savings account, usually for a short period of time, then a Nationwide-specific third party mandate may be suitable.

Third party mandate

2. General power of attorney

If you need help managing your financial affairs in the short term or for as long as you're able to give instructions, then a general (ordinary) power of attorney might be helpful.

General power of attorney

3. Lasting power of attorney

If you need help managing your financial affairs and would like this to continue should you become unable to make financial decisions - or you just want someone to be able to manage your financial affairs should you lose capacity in the future - then you may want to look into a lasting power of attorney.

Lasting power of attorney

Third party mandate

General power of attorney

Lasting power of attorney